Golden Spike Resources expands private placement to $975,000

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) has increased the size of its non-brokered private placement from 500 units to 975 units, raising the maximum aggregate gross proceeds from $500,000 to $975,000 (Canadian dollars), citing strong investor demand.

Each unit is priced at $1,000 and consists of one 15% unsecured convertible debenture with a principal amount of $1,000 and 26,315 common share purchase warrants. All securities issued under the offering are subject to a four-month-and-one-day statutory hold period from the date of issuance.

The offering remains subject to regulatory and stock exchange approvals, including approval from the Canadian Securities Exchange. The company noted that insiders are expected to participate, potentially classifying the transaction as a related party transaction under Multilateral Instrument 61-101, and the company intends to rely on exemptions from formal valuation and minority approval requirements.

The company also announced two board appointments. Mike Gardner has been named Non-Executive Chairman. Gardner began his career on the Toronto Stock Exchange trading floor in 1973 and later served as Head Trader at Yorkton Securities for 25 years before founding the trading desk at Byron Securities. Ashton Wekerle, an associate at Altitude Capital Partners focusing on corporate finance in the mining and resource sectors, has been appointed as a director. Keith Anderson has resigned from the board and will continue as President.

Gardner said in a statement: "The Gordon name carried real weight on Bay Street when I was on the trading floor, and I like what this team is building under it - disciplined, well-structured, and positioned for a strong resource market."

Golden Spike is a Canadian mineral exploration company holding a 100% interest in the 5,175-hectare Gregory River Property in Newfoundland. The information in this article is based on a company press release dated August 24, 2026.

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